reply from is, page-35

The cycle begins again with first home buyers who are fooled by this first home owners grant: borrow max $$$$ & pay the severe price when interest rates go up (make no mistake) as inflation commences. These stupid Government grants just ramp up artificial infaltion at property auction, by panic stricken firt home buyers who try to out bid each other. Why has Australia this huge mortgage stress, because of too much debt & unsustainable (for a very long period) property prices. Property prices would be much more sustainable if negative gearing & first home grants were abolished. What is the benefitof boom & bust ??? everybody losers in the end, hence todays ultra mess.